Next posted a 3.9% rise in sales for November and December as the retailer weathered the difficult conditions on the high street.

Shares opened 4% higher after the chain said the festive performance meant it was on track for profits growth at the top end of expectations.

The group was driven by a strong online performance, with Directory revenues up by 11.2% between November 1 and December 24. Store sales were better than many City expectations, at 0.8% higher than a year ago.